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JAL invests $10 mil in supersonic jet project

JAL invests $10 mil in supersonic jet project

Japan Airlines will also lend its knowledge and experience to help Boom develop its supersonic passenger aircraft, which could fly at a speed of Mach 2.2 (1,451 mph) and cut worldwide travel times in half as soon as 2023.

Japan Airlines (JAL) has concluded a strategic partnership with Boom Supersonic, the US firm that is seeking to develop a new-generation supersonic transport.

And with so many flyers yearning for the return of the days of the Concorde, Boom will certainly see the excitement from fans both young and old, all of them mesmerized by the premise of rocketing across the sky at over twice the speed of sound.

"Through this partnership, we hope to contribute to the future of supersonic travel with the intent of providing more "time" to our valued passengers while emphasizing flight safety", JAL president Yoshiharu Ueki said.

Where were you 14 years ago when Concorde took its final flight?

"We're thrilled to be working with JAL to develop a reliable, easily-maintained aircraft that will provide revolutionary speed to passengers", Boom's chief executive Blake Scholl said.

Earlier this year, Boom raised $33 million to fund the development of the XB-1 prototype. Boom's aircraft is expected to enter service in the mid-2020s. Its initial funding is a drop in the bucket compared with the billions of dollars Boom will need to develop, build, test, certify and mass produce a full-scale airliner.

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Following the transaction, the chief executive officer now directly owns 41,435 shares in the company, valued at $2,636,923.40. The Massachusetts-based Liberty Mutual Gru Asset Management has invested 0.1% in Activision Blizzard, Inc . (NASDAQ: ATVI ).

If Boom does succeed with its new generation of superfast planes, it will be the first...

Japan Air also agreed to take an option to purchase up to 20 aircraft, the two companies said in a joint statement posted on the carrier's website.

JAL is not the first business to back Boom.

Branson has the rights to the first 10 Boom aircraft produced.

The Japanese archipelago is among the most attractive areas for supersonic flying because planes don't have to travel over very much land to reach big cities. Supersonic flight is banned over Europe and the United States.

Boom claims to have cracked the supersonic code, planning an initial list price of $200m per aircraft, with orders envisaged at 1,000 by 2035.

The speed isn't just attractive for intercontinental flights, Scholl said. The airliner relisted in Japan two years later.


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